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for the market in 2013 is the blackstone group. the big publicly traded asset firm. why blackstone? a company that i wasn't keen on. the company earns money investing other people's money. private equity funds. at the moment the company has $205 billion in assets under management. that's the difference between where the congress is it's so much. it's as good as it gets. everyone says that. when you see someone who in the business work at blackstone. they are a smart guy. that's the way it is. right now in this not so hot environment all of blackstone products are beating benchmarks. that matters. it's the end of the year. the business is good. in the last two years the company managed to raise 72 billion of new money from investors and greater assets under management, the more money blackstone makes from performance fees. this is how they're doing in an okay but somewhat troubled environment. now, let's think about this. suppose the fiscal cliff gets resolved quickly without wrecking the economy. i think washington is the only thing standing in the way of a worldwide surge in growth and profi
government pays farmers. john blackstone reports. >> who wants milk? >> me. >> me. >> me. >> reporter: with four children the rasmussen family in california drinks about five gallons a week on milk. if congress doesn't pass the bill, i would cost him $106. that has dad sean rasmussen worried. >> they have to have their milk. we might have to cut elsewhere. >> reporter: without new legislation government prices revert back to 1939 levels. back then the process was more laborious and farmers needed a higher subsidy to cover their costs. dan sumner says the new price of milk would be far above what it now costs dairy farmers to produce it. >> it really will be chaos. >> reporter: so we would go back to this old farm bill which would force the government to buy milk at an extremely high price. >> that's right. >> reporter: this could be a windfall for dairy farmers. >> well, here's the problem for dairy farmers. they don't want chaos in the milk market. it sounds good. gee, everybody will double or triple the price, but who's going to buy it? >> caller: nobody will buy it. >> nobody will
for life. no exceptions. john blackstone tonight reports on the young people who saw injustice in the three strikes law and set out to change it. >> reporter: at standford law school michael romano and his students don't just study justice, they go in search of it. seeking to free those who because of california's three strikes law are serving life sentences for minor crimes. >> his third strike was shoplifting a pair of gloves and a spool of wire from home depot. >> that is one of the inmates ashley nicole davis is helping and another client. >> was arrested, attempting to steal a car radio. >> reporter: california passed its harsh three strikes law in 1994 after the high profile kidnapping and killing of 12-year-old polly klaus by a repeat offender. it was meant to keep serial murders, rapists and child molesters off the streets. but standford's students saw a disturbing pattern. >> not just a handful of people who were sentenced to life. this wasn't the exception, this is the rule there are thousands of people who have been sentenced to life in prison for nonviolent crime. >> reporter: t
sales. 1.1 million cars and trucks were sold last month, up 15% or last year. john blackstone reportes, while americans are spending more money on cars they're demanding vehicles vehicles that cost them less at the pump. >> reporter: this year's l.a. auto show is bolder... and greener than ever before. more than 50 electric, i hybrid, and other fuel-efficient vehicles are on display at a time when style is taking a backseat to fuel economy. edward loh, editor in chief for "motor trend" magazine says auto makers are paying close attention because more americans are in a buying mood. right now, the average age of a car opt road is 11 years, a record high. >> now, they're in these old cars. they want to buy a new one. they're going to start thinking about, hey, how much am i going to pay at the pump? >> reporter: overall consumer interest in alternate-fuel vehicles is up 54% so g.m. is renewing its commitment to pure electric cars with the chevy spark ev. ford is rolling out eight vehicles that deliver 40 miles per gallon or better including the 2014 fiesta, that has a breakthrough three
that the red planet could have supported life, and today we got another clue. here's john blackstone. >> reporter: the pictures of martian rocks, ridges, and sand drifts are among 11,000 images, including this self-portrait that the rover "curiosity" has sent back to earth in just four months. but what fueled rumors of a big discovery was the collection of a few scoops of martian soil. "curiosity" "curiosity's" on board chemical lab found a trace of carbon, an essential building block of life. "curiosity" lead scientist john grot singer. >> okay, it's on mars but maybe it didn't come from mars. >> reporter: it could be material that came from somewhere else in the universe. or it may have traveled to mars on board "curiosity" itself. michael meyer leads nasa's mars exploration programs. >> so what you have to do now is figure out did we carry these organic compounds to mars with us? >> not only did we carry these organic compounds but also then sort out where they -- which ones are they exactly? >> pelley: while "curiosity's" two year mission has just begun, scientists say it's alrea
with lots of questions. john blackstone clears the air. and what town has the winningest football team in the nation? wyatt andrews takes us to a community on hard times now riding high. >> one, two, three. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. whether the u.s. enters the war in syria appears to be up to the dictator bashar al-assad. on monday, david martin reported orte the assad regime had given orders to prepare chemical weapons for possible use to put down the revolt that has been raging in that country for more than a year and a half. oesident obama said the use of these weapons of mass bestruction would be totally unacceptable. well, tonight, david has new intelligence to report, and we have three stories on the breaking news in syria. we'll start with martin at the pentagon. >> reporter: u.s. intelligence so far has not detected any emgns syria is loading chemical weapons on to aircraft, but defense secretary panetta said it appears the embattled assad regime is preparing to do just that. >> there is no question th
on a ban on 20me-sex marriage that was passed by california voters in 2008. john blackstone has our lead from san francisco. >> reporter: for five months in 2008, same-sex couples in california could marry legally. then voters passed proposition 8 banning same-sex marriage. when gay couples challenged prop 8, both the state supreme court and the federal ninth circuit court of appeals ruled that banning same-sex marriage is unconstitutional. many supporters of same-sex marriage were hoping the supreme court would not take this case. therese stewart is san francisco's deputy city attorney. in many ways, this is bad news for you. >> it's bad news in the sense that if we had-- if the court had denied review we would have seen marriages very quickly within a few days, again, not only in san francisco but all over california. >> reporter: opponents of same- sex marriage say the supreme court should uphold the will of california voters, defining marriage as only between a man and a woman. >> it's important to remember that still in the vast majority of states, four out of five states, the peopl
vehicles, they're also looking to spend less time and money at the pump. as cbs reporter john blackstone shows us automakers are finally getting the message. >> reporter: this year's l. a. autoshow is bolder -- and greener than ever before. more than 50 electric, hybrid and over fuel-efficient cars are on display. at a time when style is taken a backseat to fuel economy. edward low editor in chief for motor trend magazine says automakers are paying close attention because more americans are in a buying mood. right now the average age of a car on the road is 11 years a record high. >> now they're in these old cars and they want to buy a new one. they're going to start thinking about hey, how much am i going to pay at the pump? >> reporter: overall consumer interest in alternative fuel vehicles is up 54%. so gm is renewing its commitment to pure electric cars with the chevy spark ev. ford is rolling out eight vehicles that deliver 40 miles per gallon or better. including the 2014 fiesta that has a breakthrough three cylinder engine. the spokesman mickle line. >> it's so small you can actua
jump. here's john blackstone. >> reporter: jeff page owns 120- cre vineyard in california's napa valley. but when his great-grandfather started farming here in the late 1800s, this was cattle country. >> both sides of the family came en before the turn of the century, and farmed orchard fruit and cattle. he reporter: but much of the land he grew up on is gone, sold to pay estate taxes after his grandfather's death. had land back in the hills over there? >> yeah. >> reporter: had to sell it all. >> had to sell all of it? i reporter: estate tax? >> yes. >> reporter: his grandfather died in 1972 when estate taxes were at an all-time high: 77%. >> it was a big tax bill. it was half-a-million dollars. we sold off 150 acres; gave us hemething to pay the tax with. >> reporter: now, jeff and his wife mary worry their dream of passing the land on to their two daughters will be ruined by the lifcal cliff. the estate tax rate would rise from 35% to 55% on estates worth over $1 million. 1 t today's prices in the napa thley, the pages' land could easily be worth $8 million. you're wealthy, right? u'
.a. there the city started its gun buyback program much earlier than usual. john blackstone reports. >> they're hunting rivals. >> reporter: angela atkins came to the los angeles gun buyback two hunting rifles and thoughts of the children who died in newtown, connecticut. >> it was emotional, i cried, and i just felt like those were everybody's children. >> reporter: so you're getting rid of your only guns. >> getting rid of my only guns, yeah. i couldn't send them a sympathy card or anything, so i thought that's the best thing i can do. >> reporter: it was because of newtown that mayor villaraigosa moved up the annual gun buyback usually held on mother's day. the city offers gift certificates up to $200 depending on the kind of gun. the nra might say you're taking guns out of the good guys. >> well, the nra says a lot of things that doesn't pass the smell test for most of us. they said what we need are more good guys with guns. well, there are a lot of good guys with guns. we have a lot of good guys with guns, more than anyplace in the world, and we also have a lot of gun violence. >> repor
make up e upa lackluster season? here's john blackstone. >> we have sweaters starting at $15. >> reporter: at old navy in san francisco, store director jayne navyrfield spent today helping last-minute shoppers find what they need. dang >> people are frantic. la they want to make sure to get their gifts so it's giving the r gifts vice possible. >> reporter: at the westfield best henter mall, marketing director amy benson had some reasons to worry whether those last-minute hoppers would show up. retail analyst shopper trak, which counts foot traffic and raffs cut its forecast for roliday spending growth this year from 3.3% to 2.5%. >> as we are coming into the weekend it slowed a little bit but we noticed an extreme spike going into friday, saturday, and sunday. >> reporter: that last-minute uptick was seen nationwide. friday and saturday were the second and third busiest shopping days of the year. only black friday-- the day only after thanksgiving-- was busier. the question now: will the days before christmas make the aysference in the season? in general this has been a eette
to $7 a gallon or higher. john blackstone tonight explains why. >> who wants milk? >> me! >> reporter: with four children, the rasmussen family of los angeles drinks about five gallons of milk a week. if congress fails to pass a farm bill, they may end up spending an extra $120 a month on milk. that has dad sean rasmussen worried. >> we will not cut back on milk. they have to have their milk. we might have to cut elsewhere. >> reporter: without new legislation, government price supports for milk will revert to 1949 levels. back then, the process was more laborious, and farmers needed a higher subsidy to cover their costs. dan summer, professor of agricultural economics at the university of california davis, says the new price of milk will be far above what it now costs dairy farmers to produce it. >> it really will be just chaos. nobody really knows how to act. >> reporter: so we would go back to this old farm bill, which would force the government to buy milk at an extremely high price. >> that's right. >> reporter: this could be a windfall for dairy farmers. >> here's the problem fo
the drug for recreational use. this is where you cheer or boo. but as john blackstone temperatures us, even those who must enforce the law are foggy on details. >> reporter: at seattle police headquarters given the task of explaining the new marijuana law. what do you call it? >> marijwhatnow. it's a guide. >> reporter: a lot of people are saying that. it will take a year for the state to write regulations for selling marijuana legally. that leaves confusing gaps. it's still illegal to smoke pot publicly. you can possess it. you can buy it, but nobody is allowed to sell it. nobody is allowed to grow it right now either. how do you get legal pot? >> i couldn't tell you. >> reporter: the new law passed with 56% of the vote. supporters say it will save police and courts time and money. since 2001 more than 130,000 people have been arrested in washington state for marijuana possession. legal marijuana sales could generate washington $500 million a year in taxes and business. opponents worry legalization will lead to more people using drugs. >> this is not what you're going to pick up in baggy a
first time the supreme court jumps into the debate over same- se sex marriage. john blackstone on the case that could decide whether gays and lesbians have a constitutional right to marry. a surprising report on the economy. anthony mason looks at the new unemployment numbers and what they mean to the recovery. o started out as a prank involving the british royal nomily. .ow someone caught up in it is dead. mark phillips reports from sndon. and secret santa savesch
blackstone on how green machines are picking up speed. america is losing its country doctors. barry peterson shows us how one medical school might have a cure. >> i want to treat someone and i want to treat their kids and i want to treat their kids. >> dubois:
seen at other buy-backs like in oakland and san francisco. john blackstone was there. >> they're hunting rifles. >> reporter: angela came to the buy-back with two hunting rifles and thoughts of the children who died in connecticut. >> it was emotional. of i cried. and i just don't like those for everybody's children. >> reporter: so you're getting rid of your only guns? >> these are the only guns. this is the best thing i can do. >> reporter: la 's mayor moved up the buy-back usually held on mother's day. the city overs gift certificates up to $200. the nra might say you're just taking guns out of the hands of the good guys. >> well shgs , they said that what we need are more good guys with guns. well, there are a lot of good guys with guns. we have more good guys with guns than any place in the world, and we also have more gun violence. >> reporter: guns likely to be used in crimes are unlikely to be turned in at gun buy-backs. the mayor said since 2009, los angeles has collected 8,000 guns at buy-backs, a period in which violent crime in the city has dropped by 33%. >> th
blackstone shows us how tumbling off the fiscal cliff could destroy the legacy of a napa valley vineyard. >> reporter: when his great grandfather started farming her in the late 1800s... >> they farmed orchard fruit and cattle. >> reporter: but much of the land he grew up on is gone, sold, to pay estate taxes after his grandfather's death. >> had to sell all of it. >> estate taxes? >> yes. >> reporter: his grandfather died in 1972 when estate taxes were at an all-time high, 77%. >> it was a big tax bill. it was, you know, half a million dollars. we sold off 150 acres. it gave us something to pay the tax with. >> reporter: now, jeff and his wife marry worry their dream of passing the land on to their two daughters will be ruined by the fiscal cliff. the estate tax rate would rise from 35 to 55% on estates worth over $1 million. at today's prices in the napa valley, the land could easily be worth $8 million. >> you're wealthy, but it's all in the dirt. we're dirt rich, cash poor. >> reporter: for the paiges, more than money is at stake. they want the land which is part of their family's pa
of their past to be part of their future. john blackstone, napa valley. >>> log onto cbssf.com. >>> heightened patrols for drunk drivers are getting underway starting tonight. agencies will set up dui chick points. the drunk driving crack down comes as the depate is proposing tougher penalties for repeat offenders. devices to prevent a car from starting if the driver is intoxicated. >> we need to do more to save lives. >> statewide, the chp made close to 1200dui arrests during the holidays. >>> another friday night road hazard, critical mass taking to the streets. only a handful of bicyclists showed up tonight in san francisco. this year marks the event's 20th year. >> checking out the headlines, three more murders brings oakland's homicide rate to it's highist since 2006. two men were shot at 1:00 a.m. 90 minutes later, a woman was stabbed to death. police made an arrest in her murder. the shootings happened in an area in west oak lan. some of san francisco's most beautiful murals have become targets for taggers. several have been vandalized from north beach to the tenderloin. vandals -- city
, himself to death. john blackstone is at clackamass town center. john good morning. >> reporter: good morning, norah and charlie and good morning to our viewers in the west. the christmas spirit quickly left this mall yesterday. one eyewitness said the gunman was wearing a hockey mask and bulletproof mask and calmly fire on announced he was the shooter before he began firing into the as crowds achristmas music plays. >> there's one person saying there's a man with a rifle near the food court and he's still shooti shooting people. >> we are here on foot and there are people bailing out like crazy from everywhere. >> reporter: for shoppers at poor this suburban portland mall it truly was a nightmare before christmas, one captured on this cell phone video. >> there are five to seven tured this gunshots and there was a little ere pause the initial five to seven shots and another four to seven nother shots. >> it was scary. was it was shocking experience.experience. >> today there was about 10,000 people at the mall so there was a huge amount of people running in differen
. blackstone acquired seaworld entertainment three years ago. they've filed to take the operator of seaworld and bush gardens a good time? >> let me point out they will still have a controlling interest in this company. they're still selling just a small part of it. if you jump into the ipo you're swimming with the sharks. >> michelle? >> i think theme parks are great. we own some, don't we, tyler? >> yes, we do. >> anything that bolsters what's going on in orlando is great. whether you should buy it, i'm not quite so sure. i would have to take a look at the financials. >> blackstone has done a great job with this company. it was a bad time. people were freaking out about parks and they've turned it around. it's been profitable. >> they've turned it around and generally the theme park stocks, six flags, i think cedar fair is another one have done pretty well this year. i'm always skeptical of buying in on an ipo. they usually don't work out all that well. new york city's mta releasing a subway app to track train arrival times on seven of the city's 24 lines. right now only passengers with ip
freeze 40% of our imports? john blackstone in california is on the waterfront. ghere's no stopping the heavy weather headed to the west coast. carter evans on where and when it will hit. if somebody else had to win powerball, it couldn't have
this year. what's behind this strike? here's john blackstone in l.a. >> reporter: it began with 70 workers. now all 800 members of their union are on strike. but 10,000 other dock workers are refusing to cross the picket line. that has brought the normally busy port to a new stand still. geraldine knatz directs the port of los angeles. >> there's probably about a billion dollars worth of goods that come through this port everyday and we probably got about 900,000 or so people in the southland whose jobs are tied to the activity going through this port. >> reporter: the ports are clogged with 16 ships waiting to be unloaded. another six are anchored off the coast. >> if the ships are not working, the truckers are not working, the warehouse people are not working. it will ripple through the supply chain. >> reporter: it doesn't take much of a delay to cause problems for people. >> no. a very short delay will -- can mean that stores may not get a shipment the day that they expect it for their sale. >> reporter: the striking workers handle all the paperwork that gets cargo from the port to the
: police confirmed at least one dead. they said that the gunman was, quote, neutralized. john blackstone, cbs news, san francisco. >> we now return to scott pelley in washington. >> pelley: organized labor suffered a defeat today. michigan, the birthplace of the united auto workers, became the 24th right to work state. that means workers cannot be forced to join a union or pay union dues to get a job. the law was passed today by the republican legislature and signed by the governor. elaine quijano is in lancing for us tonight. >> right to work has got to go! >> reporter: union members from across michigan and other states voiced their anger at the michigan capital. mike huerta has been a member of the united auto workers union since 1997. >> no one wants this in this state. this state is where the birthplace of the united auto workers is, this place is where unions built the middle-class. >> reporter: but republican governor rick snyder insists the legislation will help workers by not forcing them to join unions or pay dues. >> if they don't see value in the union in terms of its activit
interest rates to the unemployment rate. joatt andrews on what that will mean. john blackstone on what we know about the gunman who went on a deadly rampage in an oregon mall. bob orr reports that submarines drug this one are becoming the vehicle of choice for drug anners. could terrorists be next? old dean reynolds with a man restoring old bodies and sg
. whhn blackstone is in clackamas ounty, oregon. oregporter: 10,000 people were when tmall when the shooting began, the rush of christmas s opping became a rush to survive. bob schwab was walking nearby. what did you hear? >> i heard bang, bang, bang, bang. >> reporter: stephen forsythe iled in the food court. shopper cindy yuille was there, e o. a 15-year-old was seriously wounded. the gunman knew none of his victims. >> i think we all need to be very thankful that this incident wasn't much worse. >> reporter: the gunman was armed with an ar-15 semiautomatic rifle and carry the several magazines of ammunition. >> it appeared the suspect's rifle did jam while he was attacking individuals in the arin court. uchreporter: the mall had incitly run a drill preparing shojust such an incident. stores gathered shoppers and incked their doors. allice arrived at the mall within two minutes of the first 911 call and brought thousands out of the mall ordering them all to keep their hands up. witnesses say 22-year-old jacob roberts was wearing a hockey mask and yelled, "i am the hooter," bef
. the sheriff says the gun used in the shooting was stolen from someone roberts new. john blackstone, clackamas mall, portland, oregon. >>> yesterday software big wig john mcafee was in a jail. he awaits in a hotel this morning on a ritzy beach. mcafee arrivinged in miami last night. he had gone there, running from police in belize where he was wanted for questioning in a murder. mcafee says he's not worried about being sent back to belize, and he'd be glad to answer questions in an american court. >> if i'm in an american court, there's nothing they have that will send me back. i have evidence about the corruption and harassment beginning with the attack on my property. of course, i'm not worried. i'd be happy to go before a judge, just not belize. >> police say no arrest warrant has been issued for mcafee. >>> a mega concert from the boss to bon jovi. some of the biggest rock stars in the world got together at new york's madison square garden to help hurricane victims. this is the "morning news." s." [ female announcer ] born from the sweet monk fruit, something this delicious could only come
to collect more than 2,500 guns before it's over. >> axelrod: john blackstone in los angeles, thank you. a sad sight here in new york today in a place that's seen its share of trouble lately. an endangered finback whale washed up alive on the beach oh the breezy point section of queens. several volunteer firefighters hosed down the 60-foot whale. they're from one of the departments that fought the fire that destroyed more than 100 homes the night sandy hit. marine biologists say the whale is injured and may not survive. something found after that fire in breezy point brought this woman to tears. but the story did not end there. the next chapter when we come back. yo, give it up, dude! up high! ok. don't you have any usefull apps on that thing? who do you think i am, quicken loans? ♪ at quicken loans, our amazingly useful mortgage calculator app allows you to quickly calculate your mortgage payment based on today's incredibly low interest rates... right from your iphone or android smartphone. one more way quicken loans is engineered to amaze. ♪ smoke? nah, i'm good. ♪ [ male announ
garrett. we're also facing a dairy cliff. john blackstone on why milk may soon double in price. the drilling boom in colorado it's leaving towns flush with cash but what is it leaving behind? ben tracy is there. and dean reynolds on the men who create some of the most precious gifts. all retirees? >> all retirees. and they all get paid the same. >> reporter: nothing. >> nothing. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> glor: good evening, everyone.
blackstone tells us those that are supposed to enforce law are a little foggy on the details. >> reporter: at seattle police headquarters, jonah spangenthal lee was given the task of explaining the state state's new marijuana law on an online guide. >> what do you call it? mari-what? the guide to legal pot use in seattle. >> reporter: a lot of people are saying thattix. it will take a year for the state to write regulations for selling marijuana illegally. for now that leaves some confusion gaffes. for example it's still illegal to smoke pot publicly, but last night teem peepdid. let me get this straight-- you can possess it, you can buy it but nobody is allowed to sell it. >> that's correct. >> reporter: and nobody is allowed to grow it right now either. >> that's correct as well. >> reporter: so how do you get legal pot? >> i couldn't tell you. >> reporter: the new law passed with 56% of the vote. supporters say it the save police time and money. since 2001, more than 130,000 people have been arrested in washington state for marijuana possession. legal marijuana sales could also generat
of investing. carlisle's david rubenstein, steve shoresman blackstone, venture capital's marc andreesson, and jamie dimon. look at that -- >> in addition we have jerry webb. make us all -- the rest of us feel -- >> we have one -- >> you're an economist or something? you play on to have -- you can think about the 12-12-12 thing in the meantime because you're good at math. >> yeah. all that stuff. >> all right. >>> as we move closer to the edge of the fiscal cliff, every move is being magnified by the markets. president obama and house speaker john boehner spoke by phone on tuesday, exchanging new proposals. the president gave boehner a revised offer on monday, reducing his demand for new tax revenue from $1.6 trillion to $1.4 trillion over ten years. boehner responded with a plan that largely sticks to his original offer a week ago. reports say the white house has told republicans it would include an overhaul of corporate taxes in any budget deal. that hasn't been done before. in an exclusive interview with barbara walters of abc news, president obama says he still expects a deal before t
on mars. as john blackstone reports nasa is not trying to raise their expectations. >> reporter: since it touched down on the martian surface, curiosity has been sending a steady stream of high-definition images as it travels slowly across a crater. now it's on board laboratory is analyzing soil, searching in particular for carbon, an essential building block of life. but no, says lead scientist, they haven't found any yet. >> we don't have something that we believe is organic material that comes from mars. >> reporter: however a few words in an interview seemed to suggest that curiosity had found something big. >> this data is going to be one for the history books. >> the world got excited thinking maybe you discovered carbon. >> there's a big difference between data and discovery and what we were excited about was the fact we were getting great data. >> reporter: that data he says will take time to figure out. >> we got to learn to be patient. curiosity's middle name is patience. >> reporter: just like this inflated model of curiosity recover being punched full of hot air turns out
adults to own marijuana for nonmedical use. john blackstone reports from seattle that supporters wasted no time celebrating. >> three two, one! >> reporter: at the stroke of midnight, there were cheers in seattle as marijuana officially became legal in washington state. an impromptu celebration was held appropriately enough at the space needle a seattle high point. did you ever think you would see this day? >> i certainly did not. i did not. kind of glad it's here now. >> reporter: the air was filled with the scent of victory. for those who campaigned for this night. although that itself is stretching the new law. it is not legal to use marijuana in public just like alcohol. and while it is now legal for those 21 and over to buy marijuana, it is not yet legal to sell it. the state still has to write rules for licensing marijuana retailers. >> this is the beginning -- >> reporter: washington voters passed the law partly because of the efforts of one well traveled resident of the state. >> i'm rick steves. >> reporter: who has hosted his travel television show was t
. first of all you think of who owns sea world, a private equity firm blackstone owns the theme park and blackstone isn't known to holding on to the companies for long and they're looking to pay off debt. sea world has been doing pretty darned well lately. the company is looking to make its big splash or public debut sometime next year. it will trade under the ticker symbol seas and hoping to raise $100 million in the offering. some estimates put it higher. remember the facebook road show? yes, underwriters for sea world are going to be doing the same thing, they'll shop the company around, gauge interest, to figure out the right size and the right price tag for the ipo before its debut. also sea world also owns the busch gardens and sesame place brands as well so we can relate to those theme parks, too. >> families love going to the parks but if you're mom, dad, two or three kids it's expensive. >> yes it is. >> what is the potential effect on ticket prices? >> that's a really good question. one ipo analyst we talked with said he doesn't see how it would affect ticket prices. he sai
. >> thank god for that. john blackstone says some people will keep worrying until they wake up safe and sound tomorrow morning. >> reporter: all this year doomsdayers are saying t.s. eliot had it backwards it will not end with a whimper but with a bang. this is what they've been saying today will look like the end of the mayan calendar december 21st means mass destruction on a global scale as seen in the hollywood blockbuster "2012." but scientists remain unconvinced. >> the earth is not coming to an end. there's no evidence whatsoever for that. >> reporter: in fact nasa has taken a lead role in debunking the mayan myth posting several youtube videos attempting to soothe the shaken populous. >> no known asteroids or comets are on a collision course with earth. >> reporter: nasa has a website intended to put people's minds at ease some 5 million people have logged on to read reassuring words like "the world will not end in 2012. our planet has been getting along just fine for more than 4 billion years." experts say the public's fears may be unwarranted, but they
,000. as john blackstone reports, the new restrictions are causing heartbreak. >> reporter: outside chicago tuesday, the fong family celebrated christmas with hopes of adding a new member in the new year. >> our children are very much so excited to having a baby brother. like i said, we set up his room together. >> reporter: courtney fong and his wife natasha have two biological children, nathan and cameron. in 2010 they adopted eliana from siberia and made this video about their journey to bring her home. now they want to adopt again. >> this is the crib that we have set up for our son. >> reporter: but russia is on the verge of banning all american adoptions. the measure is widely seen as retaliation for a new u.s. law that punishes russians accused of violating human rights. last week president vladimir putin expressed support for the ban, but was cagey when pressed if he would sign it into law. >> we see this as another situation where vulnerable children could be impacted by human rights issues between these two countries. >> reporter: laurie goldheim of the amer
by the movie theater massacre in aurora or the columbine high school shootings. for them as john blackstone reports, each new tragedy brings a painful reminder of the past. >> reporter: 14-year-old kaleylan bailey lives in new hampshire. when she heard of the shootings in connecticut it was almost as if she was there. >> i went into the gym locker, girls locker room, and sat there and cried. >> reporter: this past summer kaylan was in the aurora movie theater when a gunman opened fire killing 12 people including kaylan's 6-year-old friend veronica mauser. after the shooting, we met kaylan and her mother heather. >> horrifying picturing in my head what i saw that night. >> reporter: you say not a scratch on her or wound that we can see. >> right. but mentally, she's going to be dealing with this for a really long time. >> reporter: now the massacre at newtown threatens to be a setback. >> kaylan calls crying from school where i thought she was safe. that she didn't have to hear about it. >> it's going to be hard. it's going to be a hard long road. >> reporter: while the w
points. sources telling reuters the blackstone group will keep its money with sec capital despite a federal insider-trading probe into that very much watched hedge fund. blackstone has $550 million invested, insiders say there are three discussions about the ongoing investigation. starbucks looking to revamp its european operations, wall street journal reporting the coffee giant will open stores closer to areas where people work and live, at the high end shopping district. move following similar tactics starbucks used in a u.s. turnaround. that is the latest from fox business giving you the power to prosper. shot shibani: the countdown to avoid the fiscal cliff but another crisis has been averted. the longshoremen's strike that would have shut east coast and gulf coast ports at midnight tomorrow. dennis: phil keating has the latest details. he joined us from miami. phil: the good news is we can say no strike is happening this weekend. we could be right back where we were an hour-and-a-half ago worry about a pending strike if both sides do not finish working on everything over ther
reuters blackstone group will keep its money despite a federal insider-trading probe into that hedge fund. the asset management arm of blackstone has $550 million in debt. that is the latest from the fox business network. adam: president obama and congressional leaders are set to meet in 20 minutes in a last-ditch effort to work out a fiscal cliff deal but without a deal the defense department can expect $500 billion in cuts. how will this affect the nation's defense contracts? >> the pentagon will face $2 billion over nine years, that works out to $55 billion year cut starting in 2013. the army, navy, air force, marines and coast guard take equal, according to one military analyst who says the impact of the military is, quote, very serious. >> the pentagon and departments are in financial trouble because there has already been a 4 ebullient dollar cut. that is being applied, to take another cut on top of that is devastating. >> it is not just the military itself that will take a hit. defense contractors, private companies that work for the pentagon. one democratic congressman in virginia
if this whole private equity industry, we're talking about the blackstone group and bain capital and kkr and cerberus, all of these billionaires who are buying and selling companies, this whole industry only exists because public employee pension funds invest lots of money into them. it got started with the oregon public employee pension fund. any viewers out there if you work for a city or state or teacher, you can go to the web site of your retirement fund and see, they will list down there all of the different private equity funds that they're invested in. as you noted the california pension funds but also the new york pension funds and every big state these are some of the biggest pools of capital out there and they mostly buy stocks and bonds and index funds. they take a chunk of the money and say maybe we can do a little better by investing in these private equity firms. this relationship between these pension managers, public employee pension managers, some who are elected officials and the public industry is very inten
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